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In 2016, a mere 12 years after the company was launched, JD.com became the first Chinese company to be counted as part of the Fortune 500. This was just two years after the online retailing giant’s stock was initially listed on the NASDAQ.

The man behind JD.com’s success is Richard Liu Qiangdong, a soft-spoken billionaire who is passionate his value proposition and keeping his customers’ trust. Mr. Liu is reported to have a net worth of $11 billion while JD.com has an estimated capitalization of more than $57 billion. At a recent World Economic Forum in Davos-Klosters, Switzerland, Mr. Liu opened up about the origins of JD.com.

The Jingdong Years

As an undergraduate at Renmin University in Beijing in the early 1990s, Richard Liu Qiangdong studied sociology, but he was well aware that this major would not do much to advance his prospects in the business sector that he wished to become part of. He’d grown up in an entrepreneurial family, though: Many business skills were already hard-wired into him.

In 1998, Richard Liu Qiangdong felt confident enough to embark upon his first serious business venture. He opened a shop in Zhongguancun High-Tech Industrial Park, which he called “Jingdong.” The shop sold magneto-optical products and computer accessories.

From the very start, Mr. Richard Liu Qiangdong was determined only to sell authentic brand-name products in his store: He would not deal in counterfeit products. Jingdong did so well that by 2003, Mr. Liu had expanded into a dozen storefronts. See This Page for additional information.

The Birth of JD.com

Business opportunities often arise when you least expect them. In 2003, China was hit by a severe SARS epidemic. Seemingly overnight, Jingdong’s customer base vanished.

Mr. Liu sat down with his managers to brainstorm strategies. When one of his managers suggested that Mr. Liu take the business online, Mr. Liu listened. In 2004, he launched JD.com, and the rest is history.

Richard Liu Qiangdong is the founder and CEO of JD.com, which is estimated to have a market capitalization of $60 billion. While JD.com is one of the largest companies in China, Liu still believes that there is room for growth. Let’s take a closer look at Richard Liu’s life and why he thinks his company stands out from the rest.

Jingdong Takes Customer Service Seriously

If you are a customer in China, you can expect to get your order in about six hours. In fact, Liu says that those in major cities like Beijing can get their orders in about an hour. However, this depends on when the order is received by the site and where items are sourced from. While it may take longer for international customers to receive products, they can also order an item from JD.com and have it delivered to their home. Go To This Page for related information.

Wealth Is Something to Use for Good

Richard Liu Qiangdong believes that it isn’t a burden to be wealthy. Instead, it gives him an opportunity to do things for himself, his company and society as a whole. Liu thinks that it is possible to grow his business in a way that makes life better for his workers as well as for his customers. JD.com currently employs 160,000 people, and that number is growing rapidly each year.

Liu Has Always Considered Himself To Be a Hard Worker

Richard Liu Qiangdong have always valued hard work and have had a strong drive to do better in life. For Liu, the fact that his family was poor was his motivation to make as much money as possible for himself.